MNP Debt Blog

With the Canadian economy verging on financial crisis, it's no surprise to learn thousands of Canadian households are struggling to keep up with the cost of living, on top of trying to stretch income from one debt payment to the next. In efforts of holding...

Congratulations! You’ve found your perfect home and qualified for a mortgage. The big work is done now. Or is it?

While consumer insolvency rates continue to increase in many provinces, consumer insolvencies (bankruptcies and Consumer Proposals) filed in B.C. were down almost 7% from 2015. That’s a good thing isn’t it?

Trying to pay your down debt but feel like there’s no wiggle room? Here’s a few tips to free up some funds and get you back on track.

When a person files a Consumer Proposal or bankruptcy, they are required to provide full financial disclosure to the LIT. In fact, the legal documents which summarize their financial position are signed under oath.

Considering bankruptcy as a debt solution but wondering what happens to your property across the border? Let’s explore.

The debt load is now overwhelming. This is not where you thought you would ever find yourself. After trying everything you can think of to manage it, you see no light at the end of the tunnel and you know it’s time to consult with a Licensed Insolvency...

As the Canadian economy continues to struggle and the cost of living continues to soar, many Canadians are struggling to keep up with the costs of day-to-day living, let alone manage debt or save for the future. Sound familiar?

An RRSP is an asset of a bankruptcy estate, however subject to exemptions provided by both provincial and federal legislation. It is the exemptions afforded a bankrupt that permits an individual to retain certain assets, while permitting them to access...

With the steadily increasing record levels of consumer debt amongst Canadians, as a Licensed Insolvency Trustee, I am surprised by the number of people who contact me without having ever obtained their own credit report.